Simon Naudi: Lisbon deal frees up capital to drive Corinthia’s global growth

International Hotel Investments plc (International Hotel Investments plc, IHI), the Malta-based parent company of the Corinthia Hotels portfolio, has entered into a joint venture with Orion Capital Managers under which Orion will acquire a 72 per cent stake in the five-star Corinthia Hotel Lisbon.

The transaction marks the first investment by Orion European Real Estate Fund VI, which is targeting a final fund size of €1.5 billion. IHI, which currently owns 100 per cent of the asset, will retain a 28 per cent interest in the joint venture, while its subsidiary Corinthia Hotels Limited will continue to manage and operate the hotel.

Commenting on the deal, Simon Naudi, Chief Executive Officer of IHI, described the transaction as a strategic step aligned with the group’s longer-term objectives.

“We are pleased to welcome Orion as a strategic partner and majority investor in our Lisbon hotel,” he said, noting that IHI will “continue to hold an interest and operate [the property] as a Corinthia Hotel.”

Mr Naudi added that the move reflects IHI’s dual role as owner, developer and operator of the Corinthia portfolio, while also addressing capital allocation priorities.

“As owners, developers and operators of the Corinthia Hotels portfolio, we welcome this step to free up capital in support of the achievement of our goals on shareholder returns and brand growth worldwide.”

The Corinthia Hotel Lisbon, the largest five-star hotel in the Portuguese capital, comprises 517 keys and has recently undergone a full refurbishment. The upgrade included all guestrooms, a 3,000-square-metre spa, and three restaurants, positioning the property to serve business, leisure and MICE travellers.

For IHI, the transaction underlines a broader strategy of partnering with institutional capital at asset level, while retaining operational control and long-term exposure to flagship properties. By reducing its equity stake in Lisbon, the group is releasing capital that can be redeployed into new developments and the continued expansion of the Corinthia brand across key global markets.

The acquisition is subject to the completion of financing and the transfer of the hotel into the joint venture, with closing expected in the first half of 2026.